SEOUL, Feb. 6 (Korea Bizwire) – Sales of imported vehicles in South Korea jumped 26 percent last month compared with a year earlier on increased supplies of popular brands and aggressive promotions, industry data showed Tuesday.
The number of newly registered foreign vehicles rose to 21,075 in January from 16,674 a year earlier, the Korea Automobile Importers and Distributors Association (KAIDA) said in a statement.
The three best-selling models were the Mercedes-Benz E300 4MATIC, the BMW 520d, and the Mercedes-Benz E200 sedans. Eight out of 10 imported vehicles sold in Korea last month were from Germany, the statement said.
Imported cars accounted for 18.25 percent of the domestic passenger car market in January, up from 16.09 percent a year earlier, a KAIDA spokeswoman said.
As Audi Volkswagen Korea has resumed sales of their models this year after the dieselgate emissions cheating scandal, KAIDA expects imported brands’ market share will rise further going forward amid a growing demand for foreign-made cars.